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News and resources on regulation, compliance, legal and governance issues for banks and fintechs.

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Finalis raises $10.7m for global expansion

Finalis raises $10.7m for global expansion

Finalis has raised $107 million in seed funding for its investment banking platform that helps private market participants execute deals compliantly.

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Landmark Digital Services Package passed by European Parliament

Landmark Digital Services Package passed by European Parliament

Mainframe modernisation: Overcoming hurdles to achieve agility

Mainframe modernisation: Overcoming hurdles to achieve agility

Plaid proposes prioritisation of TPPs for PSD2 review

Plaid proposes prioritisation of TPPs for PSD2 review

EToro's Spac deal falls through

EToro's Spac deal falls through

ECB to issue eurozone warning over crypto regulation – FT

ECB to issue eurozone warning over crypto regulation – FT

EU reaches agreement on landmark MiCA regulation for crypto

EU reaches agreement on landmark MiCA regulation for crypto

UK condemned as a shameful safe haven for Moscow's gold

UK condemned as a shameful safe haven for Moscow's gold

FTC sues Walmart for facilitating money transfer fraud

FTC sues Walmart for facilitating money transfer fraud

Canadian banks team on KYC solution

Canadian banks team on KYC solution

FCA investigates Wise CEO after tax default

FCA investigates Wise CEO after tax default

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[New Report] The Future of Payments 2022 - The Cutting Edge of Digital Payments[New Report] The Future of Payments 2022 - The Cutting Edge of Digital Payments
Regulation & Compliance blogs
Digital Bank Transformation  

KYC: How banks can comply with history-making sanction rollouts

Steve Morgan

Steve Morgan - Pegasystems - Reading

Innovation in Financial Services  

Banking Fraud review 2017 to 2021 and 2022 glimpse

John Bertrand

John Bertrand - Tec 8 Limited - London

Banking Regulations  

ESG’s “Waterloo” moment

Nish Kotecha

Nish Kotecha - Finboot - London

Banking Strategy, Digital and Transformation  

Fraud prevention: The importance of technology in spotting security risks

Alex Laycy

Alex Laycy - https://amdaris.com/ - London

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Latest TV
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Mainframe modernisation: Overcoming hurdles to achieve agility

Mainframe modernisation: Overcoming hurdles to achieve agility

For mainframe modernisation to be successful, financial institutions must remedy industry challenges that have permeated the space for several years. Steve Steuart - Global Head of Mainframe Migration and Modernization, Amazon Web Services (AWS) and Keval Mehta - FS Cloud Lead, Accenture, discuss how financial institutions can best develop their mainframe modernisation strategies and what the digital endgame looks like.
EBAday 2022: Supporting harmonisation of KYC requirements

EBAday 2022: Supporting harmonisation of KYC requirements

The Euro Banking Association is contributing to standardised and digitalisable KYC processes for corporate customers and banks. EBA Secretary General Thomas Egner reports on a first important deliverable towards a more uniform customer experience across Europe.
Money 20/20: A New Perspective on Securing High Value Digital Interactions

Money 20/20: A New Perspective on Securing High Value Digital Interactions

Matthew Moynahan, CEO at OneSpan, speaks at Money 20/20 on current digitization trends in financial services and the reasons why security needs to be woven seamlessly through the customer journey. Hear Matt discuss the top requirements for conducting business in today’s hyperconnected digital world, including the ability to verify the identity of a customer, authenticate users, and ensure that hybrid and virtual engagement models are secure and compliant.
Money 20/20: How blockchain analytics can be built into business models

Money 20/20: How blockchain analytics can be built into business models

Marina Khaustova, CEO, Crystal Blockchain, speaks at Money 20/20 about how the crypto space can move to being AML complaint, how crypto regulation is going to evolve over the next few years, the impact of sanctions, and how blockchain analytics can be built into a business model.
The long read
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Stephen Elam

When Smart Contracts Go Wrong

Stephen Elam - Partner - Cooke Young & Keidan
Discussion
ESG’s “Waterloo” moment
Chris Kelsey

Chris Kelsey

  Interesting piece.  Love Abba ref!

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Fraud prevention: The importance of technology in spotting security risks
Melvin Haskins

Melvin Haskins

  After four false positives using a VISA card I stopped using the card and moved to a Mastercard. I did not blame the business, but the fraud protection by the bank or VISA. I also found that Mastercard were very quick to discover a cloned card using my details and stopped it within minutes.

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Klarna exec blasts 'mind-boggling' Barclays BNPL research
A Finextra Member

A Finextra member

  Then they will be well placed to weather the storm....  We can follow the stock price in successive funding rounds.... some more on the fundamentals:  1. Klarna’s total operating expenses climbed 70% last year to 15.7 billion Swedish krona ($1.6 billion), but total operating income rose only 38% in 2021 to 13.8 billion krona ($1.4 billion). 2. Still, Klarna said its operating losses for the 2021 calendar year widened to 6.58 billion krona, or $688.85 million, from 1.63 billion krona in 2020, Reuters reported.  3. According to data from the New York market research firm Yipitdata, Affirm dominates the U.S. market with a 40% market share, based on payments volume, followed by Klarna with 19.6%, Afterpay with 16.4%, PayPal’s Pay in 4 offering with 11% and Zip with 4.2%. The universe of rivals is rounded out by smaller players that have been acquired or will be soon, including Sezzle, which was swallowed this year by Zip. 4.As growth slows, it will become harder for BNPL providers to make money, partly because it will become more difficult to satisfy the demands of customers looking for the best deal. That in turn will make it tougher to meet the expectations of investors looking for a return on their investments. None of those efforts will be easy or cheap.

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Klarna exec blasts 'mind-boggling' Barclays BNPL research
Ketharaman Swaminathan

Ketharaman Swaminathan

  No, no, the higher valuation was because of Klarna's sound business model and solid performance aka intrinsics whereas the lower valuation is because of worsening macroeconomic conditions aka extrinsics.

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Featured
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Research reveals ESG data challenge

Research reveals ESG data challenge

India proposes tougher IT outsourcing rules for banks

India proposes tougher IT outsourcing rules for banks

Klarna exec blasts 'mind-boggling' Barclays BNPL research

Klarna exec blasts 'mind-boggling' Barclays BNPL research

PSR instigates two market reviews into Visa and Mastercard fees

PSR instigates two market reviews into Visa and Mastercard fees

The long read
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Chris Holmes

The Westminster Series: What to expect from the UK's BNPL regulation

Chris Holmes - Peer - House of Lords
Elsewhere...

  1. The Guardian

    The Covid loans, the billionaire … and Starling, the very fast-growing bank

  2. The Telegraph

    Britain can rip up Brussels red tape after Brexit, says Klarna boss

  3. CNBC

    ‘A total disaster’: Crypto firms face being booted from the UK as a key deadline approaches

  4. The Guardian

    Credit Suisse leak unmasks criminals, fraudsters and corrupt politicians

  5. CityAM

    Fintech fail: Home Office bars start-ups banked with Revolut from visa sponsorship licence

The long read
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Paige McNamee

The Future of Payments 2022: Building operational resilience

Paige McNamee - Finextra Research